Last December, long-serving Fox News anchorman Chris Wallace announced he was leaving the network. The newsman, long criticized by conservatives and Donald Trump himself, was ditching the top-rated network for CNN. But not CNN proper, the cable news channel. But their soon-to-be-launched streaming service, CNN+.
Many TV networks have hastily launched streaming apps over the last year, in a desperate attempt to save themselves from falling ratings. CNN, as the lowest-rated news channel on TV, apparently hoped that poaching Fox’s least-liked anchor would help propel their new streaming app to the top. Anyone could have told them that the worst news channel in America had little hope of beating a market as crowded as streaming video.
But this is CNN.
Now, reports are coming in that CNN+ is a major flop. And they are looking to make big cuts.
Big cuts are reportedly expected to be coming down the pipes for CNN’s new subscription streaming service, CNN+, after the service failed to garner even 10,000 daily users.
“Fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence,” CNBC reported. “To put that daily user number in perspective, CNN’s cable network suffered a sharp decline in viewership last year but still rang up an average of 773,000 total viewers a day.” […]
“The news giant was initially planning to invest around $1 billion in the service over the next four years,” Axios reported. “CNN executives, with help from consulting firm McKinsey, originally expected to bring in around 2 million subscribers in the U.S. in the service’s first year and 15-18 million after four years.” [Source: Daily Wire]
Wow! That was wildly optimistic. How did a company, that was losing TV viewers on a daily basis, expect to add 18 MILLION viewers to their subscription-based streaming service? Keep in mind, that they are losing TV viewers because Americans distrust their news coverage. Why would they jump on board (paying good money) their streaming app, to get much the same?
This should tell you just how delusional the left is. CNN lost most of its viewers because of dishonest, partisan coverage of our country and government. The rest left after 2020 because Trump was no longer in office (liberals apparently loved to hate-watch Trump news). Apparently, CNN ignored these realities and told themselves (and gullible investors) that viewership was down because people are streaming their entertainment.
So, if they just blew through $1 billion to launch a streaming app, CNN would win back their lost viewers. It was a terrible miscalculation rooted in hubris instead of fact. And for Chris Wallace to give a middle finger to Fox to join this sinking ship is even more hilarious. Did Wallace really think CNN was going to be saved through a streaming app? With himself at the helm?
There is a reason the mainstream media is dying. And this is a big part of it. We don’t know if CNN will ax Wallace to save their app, but we wouldn’t be surprised if they do.
Author: Mac Davis